For sale by owner: bad idea?

[stingsharkruns]

Has anyone sold their home w/o going through a Realtor?

The idea scares me, but paying 5-7% commission also doesn't sound like my idea of a good time.

Our home is new - We built it in 2010. I don't think there is anything that could really be negotiated (repair wise). So I think we are okay in that aspect..

This is our first home - what types of things do buyers usually want to negotiate?

What kinds of things should we think about before we decide to sell ourselves?

My Dad is the contractor so he could answer any question that anyone could ever have regarding the house. He told me that he'd show it for us & answer any questions. He still builds houses in this area so he is always around.

[kaylie]

I would also post this on money matters - I think there are some women there who have done FSBO.

It's doable, but to be successful you have to be realistic in your pricing, stage the home well, have lots of available time for showings and have a good real estate lawyer. You would probably need to offer a 2.5% commission to the buyer agent, regardless. Most buyers want an agent working for them to guide them through the process.

I wouldn't assume that there won't be any repairs requested just because the house is less than two years old. Inspections almost always turn up something.

Your dad might not be the best person to show the house. That could be really awkward if he gets defensive and if he answers something wrong, it could come back to haunt you. Usually it's better if there is no one at the house that is connected to the sellers (unless it's an open house and you have a listing agent). You can get a lock box that buyer agents can get the code for to get the key.

Things that buyers might want to negotiate on are window treatments, appliances, furniture, closing costs, outdoor fixtures (sheds, grills).

Definitely do your research before you decide. There is a lot that goes into it.

[stingsharkruns]

Sept 19, 2012 10:00:41 GMT -5 kaylie said:

I would also post this on money matters - I think there are some women there who have done FSBO.

It's doable, but to be successful you have to be realistic in your pricing, stage the home well, have lots of available time for showings and have a good real estate lawyer. You would probably need to offer a 2.5% commission to the buyer agent, regardless. Most buyers want an agent working for them to guide them through the process.

I wouldn't assume that there won't be any repairs requested just because the house is less than two years old. Inspections almost always turn up something.

Your dad might not be the best person to show the house. That could be really awkward if he gets defensive and if he answers something wrong, it could come back to haunt you. Usually it's better if there is no one at the house that is connected to the sellers (unless it's an open house and you have a listing agent). You can get a lock box that buyer agents can get the code for to get the key.

Things that buyers might want to negotiate on are window treatments, appliances, furniture, closing costs, outdoor fixtures (sheds, grills).

Definitely do your research before you decide. There is a lot that goes into it.

Good point - I can definitely see him getting cranky if someone said something negative.

selling sounds like a nightmare. period.

[mmp]

I did it, and paid 2.5% to the buyer's realtor. I paid $400 to a real estate lawyer to handle the contracts etc. I'd do it again, but I think I would pay to get on the MLS for more exposure.

[stingsharkruns]

Oct 13, 2012 8:32:03 GMT -5 mmp said:

I did it, and paid 2.5% to the buyer's realtor. I paid $400 to a real estate lawyer to handle the contracts etc. I'd do it again, but I think I would pay to get on the MLS for more exposure.

How did you handle showings? DH is OOT more than he's home - I think showing would be impossible.

DH brought FSBO again this weekend, but I just can't wrap my head around this. It sounds like a nightmare.

[mmp]

Realtors made an app't with me to show the house to their client. I would take my dogs for a walk after I let the realtor/client in and answer any questions when I got back.
I didn't hang around when they went through the house.

I did not have a lock box.

It wasn't bad at all.

[Deleted]

I sold my house myself. Of course, I really didnt have to work at it. Someone knew I was building and asked if I was selling, took a look at it, offered me a price and I took it.
Done deal.

[pickel]

I have sold a home FSBO. I think we had a lock box but my XH took care of all the showings and setting it up. It was stressful, but I don't think anymore stressful than selling with an agent is, just a little more uncertainty as to what we were doing.